Key Squawks from the Penguin Patch
Why did PENGU waddle into the abyss today?
🐧 Oh, the drama! Leveraged shorts swooped in like seagulls on a chip, pecking away near $0.0157 and sending prices tumbling by over 10%. What a flap! 🌊
What are the Pudgy Penguins plotting next?
🧊 Top wallets are holding 97% of their icy treasures-a potential frosty rebound if PENGU can slide back to $0.0177 support. Brrr, it’s chilly out there! ❄️
Pudgy Penguins [PENGU], the memecoin with more waddle than sense, slipped on a banana peel and fell 10% in the past 24 hours. Most altcoins are feeling the chill as Bitcoin [BTC] flexes its muscles since the October 10th crash. Brrr, it’s a cold world out there! 🥶
Volume? More like a blizzard! It snowballed the price decline, but not all hope is lost. The numbers look frostbitten, but top traders are sipping hot cocoa and seeing things differently. ☕️
PENGU slips on ice but winks ‘buy’
PENGU’s chart is as slippery as a frozen pond, with prices sliding over 10% intraday and nearly 22% since November began. Yet, the CVD at -$64 million is thawing from last week’s -$326 million, hinting that sellers are losing their grip. 🧊
And the MACD? Faintly green, like a penguin’s envy of a peacock’s tail. Bulls are sniffing out the monthly discount, less than a week old. Time to bundle up and buy? 🦚
Ali Charts’ analysis adds a dash of hot chocolate to the mix, pointing to a buy signal from the TD Sequential indicator. It popped up around the $0.015 zone, two-thirds down from the $0.045 highs of late August. Brrr, that’s a chilly drop! ❄️
But hold your sled-the $0.01772 to $0.01900 zone needs to flip first. No shortcuts in this icy race! 🛷
The signal aligns with the top PnL traders’ views, but the structure remains as bearish as a polar bear on a bad day. 🐻❄️
Top traders stay snug despite volume blizzard
Nansen AI on X (formerly Twitter) reports a 24-hour volume of $241.7 million, nearly 48x its daily average. That’s a snowstorm of activity! ❄️ But the top PnL traders are holding 97% of their bags, and one wallet scooped up $75K worth of PENGU. Cozy buys for a chilly market! 🧣
Still, the overall structure is as bearish as a penguin in a snowstorm. Brrr, better bundle up! 🌨️
The twist: Derivatives traders stack shorts like snowballs
Across all exchanges, cumulative shorts are at $7.68 million compared to $3.67 million for longs. That’s a lot of snowballs! ❄️ The most aggressive leverage piled up around $0.01579, where 25x-50x traders built short clusters bigger than a snow fort. Binance alone holds $3.35 million in shorts versus $1.77 million in longs. Brrr, it’s a frosty battle! ⚔️
This icy alignment confirms the latest leg down was driven by leveraged shorts, not Spot selling. But holding whales and faint buy signals suggest bottom-fishing, not a full recovery. 🏊♂️
In summary, Derivatives pressure triggered the drop, but top traders’ accumulation could limit the downside if Spot demand builds above $0.0177. Will PENGU waddle back or slide into oblivion? Only time will tell! ⏳
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2025-11-04 23:24